Apollo Group's BPO wing, Apollo Health Street (AHS) is going to unveil an IPO not to invest, but to repay the debt it raised for the acquisition of US-based outsourcing firm Zavata for $170 million. The listing would be coming probably in April-May 2008. Presently the consultants are evaluating the pros and cons of the company. The in-principle approval has already come from the board.
While acquiring Zavata for $170 million , Apollo Health Street had raised $1
20 million as debt to partly finance the acquisition. Now after the acquisition is over, AHS estimates the turnover to be approximately $100 million.
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